Search Legislation

The Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Section 28

 Help about opening options

Changes to legislation:

The Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009, Section 28 is up to date with all changes known to be in force on or before 27 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Issue of certificates etc on allotment or transfer to financial institutionU.K.

This section has no associated Explanatory Memorandum

28.  Section 778 applies to LLPs, modified so that it reads as follows—

Issue of certificates etc: allotment or transfer to financial institution

778.(1) An LLP—

(a)of which debentures are allotted to a financial institution,

(b)of which debenture stock is allotted to a financial institution, or

(c)with which a transfer for transferring debentures or debenture stock to a financial institution is lodged,

is not required in consequence of that allotment or transfer to comply with section 769(1) or 776(1) (duty of LLP as to issue of certificates etc).

(2) A “financial institution” means—

(a)a recognised clearing house [F1or a recognised CSD] acting in relation to a recognised investment exchange, or

(b)a nominee of—

(i)a recognised clearing house [F1or a recognised CSD] acting in that way, or

(ii)a recognised investment exchange,

designated for the purposes of this section in the rules of the recognised investment exchange in question.

(3) Expressions used in subsection (2) have the same meaning as in Part 18 of the Financial Services and Markets Act 2000 (c. 8)..

Back to top

Options/Help

You have chosen to open The Whole Instrument without Schedules

The Whole Instrument without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Instrument without Schedules as a PDF

The Whole Instrument without Schedules you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?